Overview
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of a Walgreens in Clermont, FL (Orlando MSA). The Tenant has been successfully operating here since 2004 (with high reported sales). Walgreens recently proved their commitment to stay at this location by executing and extending their lease early. The asset is well positioned at a lighted intersection with extremely high traffic counts in Orlando, FL and is surrounded by the market’s top retail corridor with tenants including Target, Publix, Chick-fil-A, & McDonald’s.
Investment Highlights
Top Performing Store and Investment Grade Tenant
- In the top 60th percentile of Walgreens in the State
- Very strong sales reporting
- Absolute Net Lease signed with Walgreens Corporate
- Walgreen’s has over 9k+ locations
- Market Cap: $21.7B and credit rating of BBB (S&P)
Attractive Lease Fundamentals
- Rare 5% Rental Increases from Walgreens Larger Store Format
- Abs. NNN Lease, Zero landlord responsibilities
Located in Prime Retail Node
- Approximately 670K SF of retail space is located within a 1-mile radius
- Across the street from a top Performing Target - 184k monthly visits which ranks in the top 86th percentile of visits nationally (Placer.ai)
- Other nearby national Tenants include: Petco, Chick-Fil-A, Carrabba’s, etc.
Irreplaceable Real Estate - Below Replacement Cost
- Subject site located on the corner of a lighted intersection of E. Hwy 50 (66K VPD) and Hancock Rd (14K VPD)
Synergies with Nearby Market Drivers
- Approximately 1.2 Miles to Orlando Health South Lake Hospital, a 293K SF - 170 bed hospital that employs over 1,600 people
- Approximately 1.4 miles to East Ridge High School (2,600 students)
High Growth Orlando MSA
- Orlando, FL region is projected to add more than 1,500 people every week for the next 11 years
- Orlando was the 2nd fastest growing metro form 2022 to 2023
- 2.1% forecasted employment growth for 2024 (1.4% National Avg.)
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